I was inspired by a post in Facebook that if I had invested Php 100,000 in Jollibee Food Corporation in year 2000 and bought 10,000 shares, My investment would now be worth more than Php 2.5 million. I can't believe what I saw. So I decided to do a research about stock investment and it was true specially if you are actively trading. I started in making my first step in investing in the stocks. I searched for a accredited online broker and found Colfinancial. The minimum amount in Colfinancial is Php 5,000 for their easy investment program. Before invest my money I decided to email the helpdesk for my concerns. Here are the list of my concerns that was answered by the helpdesk.
1. I wanted to open account personally at COL Financial. How many days would my account be open?
Answer: After funding, within 2-3 business days your log-in details will be emailed to you to start investing in the stock market.
2. Can I easily upgrade an account from COL EIP to COL Plus? Sample I have
open a account about a week at COL EIP, and on the other week I wanted
it to be COL Plus. Would it be possible? Can I also easily downgrade my
account?
Answer: You can request for an upgrade from Starter to Plus via the website once
you have reached the required equity. You cannot downgrade once you
have been upgraded.
3. Do I need to regularly fund my account? Sample I wanted it to be
quarterly but I had additional money, can I invest it without waiting
for the next quarter?
Answer: There is no required frequency for
deposits and you may add funds to your account as needed, or if you are running
low on cash balance and need to purchase stocks.
4. Can I easily withdraw the cash that I have funded in my account?
Answer: Yes, you can withdraw anytime.
5. Can I trade using EIP account?
Answer: Yes, you can but we do not recommend trading with a small amount of
capital as the commission and fees will consume your profit.
6. What is the recommended trading capital?
Answer: For trading, the recommended is an initial of Php 25k.
7. If I forgot to trade for a day will I still pay for the commission and fees?
Answer: We only charge for executed buy and sell transactions.
8. Do I need to fill up the secondary account holder in the
Customer Account Information Form?
Answer: The secondary account holder is only needed if
you plan to open a Joint account. There is no need for a secondary
account holder if
you wish to open an individual account only.
With all my questions answered. I decided to open an account in Colfinancial, I download the form in their website and went to their office in 2403B East Tower, Philippine Stock Exchange Center, Exchange Rd. Ortigas Center, Pasig City. I submitted the form and I was amazed on how fast the transaction is made. It only took a few minutes to generate an account, Upon receiving my account number, I hurriedly funded my account with an amount of Php 5,000. In two days I have receive the password for my account. I was so excited that day that I wanted to trade. The following day I decided to fund my account with Php 25,000 through BDO. With Php 30,000 I was excited in doing my first trade.
With all my questions answered. I decided to open an account in Colfinancial, I download the form in their website and went to their office in 2403B East Tower, Philippine Stock Exchange Center, Exchange Rd. Ortigas Center, Pasig City. I submitted the form and I was amazed on how fast the transaction is made. It only took a few minutes to generate an account, Upon receiving my account number, I hurriedly funded my account with an amount of Php 5,000. In two days I have receive the password for my account. I was so excited that day that I wanted to trade. The following day I decided to fund my account with Php 25,000 through BDO. With Php 30,000 I was excited in doing my first trade.
